Kenya: Treasury Rolls Out E-Pension System to Streamline Payouts

6 December 2024
Capital FM (Nairobi)
By Kevin Rotich

Nairobi — The National Treasury has launched an e-pension self-registration portal to digitize pension claims and curb fraud.

Principal Secretary Chris Kiptoo stated that pensioners must register by February 28, 2025, or risk suspension from the payroll.

"This deadline is not negotiable. It's critical for streamlining pension administration," Kiptoo said during the launch.

The portal is part of an end-to-end enterprise resource planning system aimed at eliminating inefficiencies and improving claims processing.

Currently, only 26 percent of Kenyans enjoy pensions, despite the sector holding Sh2 trillion in assets.

The move comes amid rising concerns over unpaid pension contributions, which grew to Sh47.16 billion by June 2024, mainly from public universities and county governments.

The Retirement Benefits Authority (RBA) reported a 12.3 percent increase in unremitted funds compared to the previous year.

National Treasury also failed to pay Sh23.78 billion to 260,000 retirees in 2024 due to liquidity challenges, highlighting the struggles retirees face even after exiting the workforce.

Read the original article on Capital FM.

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